Fund 1 Investments LLC Acquires 216,765 Shares of Grindr Inc. (NYSE:GRND)

Fund 1 Investments LLC raised its holdings in Grindr Inc. (NYSE:GRND - Free Report) by 261.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 299,765 shares of the company's stock after buying an additional 216,765 shares during the quarter. Fund 1 Investments LLC owned about 0.17% of Grindr worth $5,348,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GRND. Bank of New York Mellon Corp increased its position in Grindr by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock valued at $944,000 after buying an additional 623 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after purchasing an additional 642 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in Grindr by 5.6% in the 4th quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock worth $512,000 after purchasing an additional 1,524 shares in the last quarter. Savant Capital LLC boosted its stake in Grindr by 9.6% in the 4th quarter. Savant Capital LLC now owns 19,325 shares of the company's stock worth $345,000 after purchasing an additional 1,689 shares in the last quarter. Finally, Quarry LP grew its position in Grindr by 209.2% during the 4th quarter. Quarry LP now owns 3,423 shares of the company's stock valued at $61,000 after purchasing an additional 2,316 shares during the last quarter. 7.22% of the stock is currently owned by institutional investors.

Grindr Trading Down 1.0%

NYSE GRND traded down $0.25 on Tuesday, reaching $23.74. 3,823,761 shares of the stock were exchanged, compared to its average volume of 1,051,965. The firm has a market capitalization of $4.94 billion, a PE ratio of -67.83 and a beta of 0.28. The company's 50-day simple moving average is $18.99 and its two-hundred day simple moving average is $17.44. Grindr Inc. has a one year low of $8.95 and a one year high of $24.85.

Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. Sell-side analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 3,058 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total transaction of $49,631.34. Following the transaction, the insider now owns 613,800 shares of the company's stock, valued at approximately $9,961,974. The trade was a 0.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 5,058 shares of company stock valued at $84,371 in the last 90 days. Insiders own 76.40% of the company's stock.

Wall Street Analysts Forecast Growth

GRND has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price target on shares of Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a report on Monday. Raymond James reiterated an "outperform" rating and set a $26.00 target price (up from $22.00) on shares of Grindr in a research note on Friday. Citigroup reaffirmed an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $24.00 price objective on shares of Grindr in a report on Monday, April 21st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grindr currently has an average rating of "Buy" and an average price target of $23.25.

Grindr Profile

Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.